Biltmore Wealth Management LLC Sells 698 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Biltmore Wealth Management LLC decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 11.3% in the third quarter, Holdings Channel reports. The firm owned 5,495 shares of the e-commerce giant’s stock after selling 698 shares during the quarter. Amazon.com comprises about 0.4% of Biltmore Wealth Management LLC’s portfolio, making the stock its 21st biggest holding. Biltmore Wealth Management LLC’s holdings in Amazon.com were worth $1,024,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. PayPay Securities Corp increased its holdings in shares of Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Christopher J. Hasenberg Inc increased its holdings in shares of Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares in the last quarter. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of Amazon.com in the first quarter valued at approximately $69,000. Innealta Capital LLC acquired a new stake in shares of Amazon.com in the second quarter valued at approximately $77,000. Finally, Abich Financial Wealth Management LLC increased its holdings in shares of Amazon.com by 84.7% in the second quarter. Abich Financial Wealth Management LLC now owns 434 shares of the e-commerce giant’s stock valued at $84,000 after purchasing an additional 199 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

NASDAQ AMZN opened at $197.93 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $2.08 trillion, a P/E ratio of 47.35, a P/E/G ratio of 1.46 and a beta of 1.14. Amazon.com, Inc. has a 12-month low of $136.47 and a 12-month high of $201.20. The firm has a 50-day moving average price of $184.82 and a two-hundred day moving average price of $183.75.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The company had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. Analysts anticipate that Amazon.com, Inc. will post 4.84 earnings per share for the current year.

Insider Transactions at Amazon.com

In related news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares in the company, valued at $371,759,651.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the transaction, the chief financial officer now directly owns 49,000 shares in the company, valued at $8,820,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,855 shares of company stock valued at $9,215,048. Company insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AMZN shares. Itau BBA Securities cut shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price objective on the stock. in a research note on Friday, August 2nd. Jefferies Financial Group lifted their price target on shares of Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday. Royal Bank of Canada lifted their price target on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday. Stifel Nicolaus lifted their price target on shares of Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Bank of America lifted their price target on shares of Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $244.11.

About Amazon.com

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.